Pinduoduo (NASDAQ:PDD) Now Covered by JPMorgan Chase & Co.
JPMorgan Chase & Co. assumed coverage on shares of Pinduoduo (NASDAQ:PDD) in a report released on Tuesday morning, Benzinga reports. The firm issued an underweight rating and a $20.48 target price on the stock.
Several other research analysts have also issued reports on PDD. Benchmark started coverage on Pinduoduo in a research note on Thursday, June 13th. They set a buy rating and a $28.00 price objective for the company. Bank of America restated a buy rating on shares of Continental in a research note on Wednesday, May 15th. Jefferies Financial Group assumed coverage on Pinduoduo in a research note on Monday, April 15th. They issued a buy rating and a $30.00 target price for the company. Macquarie assumed coverage on Baozun in a research note on Friday, July 5th. They issued a buy rating and a $60.00 target price for the company. Finally, New Street Research upgraded TIM Participacoes from a neutral rating to a buy rating in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $28.28.
Pinduoduo stock opened at $19.14 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average is $20.18. Pinduoduo has a 52-week low of $16.53 and a 52-week high of $31.99. The firm has a market capitalization of $21.42 billion and a price-to-earnings ratio of -9.57.
A number of institutional investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. bought a new position in shares of Pinduoduo during the 1st quarter valued at about $35,000. Quadrant Capital Group LLC bought a new position in shares of Pinduoduo during the 1st quarter valued at about $66,000. Atlas Capital Advisors LLC bought a new position in shares of Pinduoduo during the 1st quarter valued at about $87,000. Daiwa Securities Group Inc. bought a new position in shares of Pinduoduo during the 1st quarter valued at about $102,000. Finally, Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Pinduoduo by 12.1% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 5,200 shares of the company’s stock valued at $129,000 after purchasing an additional 561 shares in the last quarter. Institutional investors and hedge funds own 10.37% of the company’s stock.
Pinduoduo Inc operates an e-commerce platform in the People's Republic of China. It also operates Pinduoduo, a mobile platform that offers a range of priced merchandise. The company was formerly known as Walnut Street Group Holding Limited and changed its name to Pinduoduo Inc in July 2018. Pinduoduo Inc was founded in 2015 and is based in Shanghai, the People's Republic of China.
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